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The reasonableness standard in commercial agreements

Canada - October 30 2019 In drafting credit agreements, a borrower may qualify a consent or obligation of the lender with the standard of "acting reasonably." Financial…

David B. Kierans, Larisa Albu, Kate Yurkovich.

Chasing Ontario PPSA estoppel letters from uncooperative creditors

Canada - December 15 2016 Ontario uses a “check-the-box” system on financing statements to secure personal property under the PPSA. This means…

David Torchetti.

Closely connected guarantor fails in bid to imply terms into a guarantee

Canada - June 29 2016 In a recent decision of the Ontario Superior Court of Justice, the Court rejected the efforts of a guarantor closely connected to the principal…

Olivia Lifman.

Certainty of intention must be clear for trust claims to prevail over secured creditors

Canada - March 30 2016 Trust claims against a borrower’s assets are something that no secured creditor wants to be confronted with. Such claims are often unexpected because…

Jeremy Hourigan.

The impact of amalgamation and other fundamental changes on guarantor liability

Canada - December 20 2015 What happens to the liabilities of an amalgamating company upon amalgamation? The general rule is clear that these liabilities continue as…

Jeremy Hourigan.